Growth is what every corporate is behind now a days. It can be coined in many terms, from revenues to building great workplaces. Depending on each individual organization’s situation their growth factor will vary. I have listed down some which I could think of below.

We can divide growth in big terms like as below.

  1. Business (Vertical / Horizontal)  Growth
  2. General Growth

Business Growth (BG)

From big organizations to recent start ups, this is a common place where they try to get better. But what are the deciding factors or areas where they pick to improve to help make this growth happen vertically / horizontally vary from company to company.  Some are general and are listed below.

Market Share

 This is the first indicator of BG. Growth of market share depends on various factors like Age of the organization, Opportunity in the market, Strength of the brand with respect to the customers, Strategies related to Pricing, Marketing and Sales, Innovative spirit in the organization to lead the market and various others depending on each industry.

 Age of the organization does not matter if your idea is brand new in the case of a start up. Then you own the 100% market share anyways. Holding on to that % is clearly impossible. As the market matures new players will come in and take their share.  Taking the advantage of starting the domain always help in retaining major market share as long as you are focused and providing the best product to the customers. If you are a new player in a matured market then you will have barriers to enter the market like competing with existing well established companies in the same market. The chances that you live in the market are slim to none, unless you distinguish the product from others. Especially if the market has players with strong branding adapted and have heavy infrastructure, assets, customers etc., already in place. Imagine you want to start a business that manufactures cars who are you competing with? Ford, BMW, VW, TOYOTA … Forget it! That is why you never see a start up entering such markets, you can attribute it mostly in that case to infrastructure but I am just quoting an example.

Vision

 Building long term and short term goals for the organization and executing them with milestones make sure that the growth is Progressive and Healthy. Short term goals include commercializing existing products or new products (in case the company is new to the market) to generate revenues to withstand the operating costs and be profitable. Customizing products to make the customer interested in buying the same. Maintaining / Creating good business terms with customer and vendors (if any).  Long term goals include creating a good brand for the product. Build core competency in the organization.  Find the future / more productive markets and moving the business towards it. Expanding business to other geographical location(s) in order to hire more skilled man power. It will also help in building bigger business contacts. Create a plan to move the business horizontally to expand the company to be more profitable and sustainable. Planned Acquisitions and Mergers is also a way to expand or grow the organization as long as they have a strategic fit in the new organization.  

General Growth

General growth includes creating great workplaces for the employees of the organization. Satisfy customers by following good business etiquette.  Create loyalty in customers by providing quality products. Establish processes in the organization to follow Six Sigma or likewise to ensure the smooth running of the company. Motivating employees to constantly learn something new to help them grow by the way they are contributing to the organization. Making it a habit to estimate and plan things meticulously.

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